ADLER FAILS IN LAST ATTEMPT TO OVERTURN DIRECTOR BAN

Former HIH Insurance director Rodney Adler has failed in his final bid to overturn his directorship ban and A$450,000 fine relating to the collapse of HIH in March 2001 with losses of up to A$5.3bn. He applied to Australia’s High Court for special leave to appeal the 2002 decision by a New South Wales Supreme Court to ban him from holding the position of company director for 20 years and impose the fine, but presiding judge Chief Justice Murray Gleeson rejected the attempt, noting that there were “insufficient prospects of success” to justify a further appeal.